Amyris, Inc. (NASDAQ:AMRS), the industrial bioscience company, achieved record first-quarter product sales for its Biossance brand, which is delivering high-growth and is expected to drive much better than expected 2017 results for this business line. Biossance Squalane + Peptide Eye Gel is the #1 selling eye product at SEPHORA.com and the brand’s products are garnering top reviews from leading industry publications.
Top recent reviews:
Biossance Squalane + Probiotic Gel Moisturizer cited by W Magazine as #1 of the “The 10 Best New Moisturizers To Try This Spring.” The magazine notes, “This gel based moisturizer is best for someone looking to reduce dryness and redness.”
Biossance noted by Allure as, “The New Natural Skin-Care Line to Hit Sephora Shelves.” Allure states, “Bottom line: Biossance is clean. But what’s most interesting about the company is that its entire line is made with squalane, an extremely hydrating ingredient.”
Biossance is growing from less than 2% of Amyris product revenue in 2016 to more than double what was originally planned for 2017. Amyris expects this pace of growth to continue and the company’s personal care business to once again be one of the fastest-growing personal care businesses in the sector. At the same time, the company’s nutrition business is also expanding significantly with better than expected introduction of Farnesene to Vitamin E oil sales in China. The cost advantage and performance of Amyris products is continuing to deliver significant disruption and growth opportunities for Amyris partners.
“We are excited by the growing contribution Biossance is making to our personal care business and the robust growth we are experiencing in our nutrition business,” said John Melo, President & CEO of Amyris. “We are off to a great start for the year driving growth across our business while pursuing strategic opportunities to improve our financial and competitive position as a leading company in our sector.”
Shares of Amyris closed yesterday at $0.58, up $0.10 or 20.83%. AMRS has a 1-year high of $1.43 and a 1-year low of $0.31. The stock’s 50-day moving average is $0.50 and its 200-day moving average is $0.68.
On the ratings front, H.C. Wainwright analyst Amit Dayal reiterated a Buy rating on AMRS, with a price target of $4, in a report issued on January 10. The current price target implies an upside of 590% from current levels. According to TipRanks.com, Dayal has a yearly average loss of 13.8%, a 35% success rate, and is ranked #4389 out of 4556 analysts.
Amyris, Inc. engages in the research, development, manufacture, and sale of fuels and farnesene-derived products. Its products include cosmetics, flavors and fragrances, performance materials, diesel, jet fuel, and lubricants. It operates through the following geographical segments: United States, Brazil, Europe, and Asia.